Readystate Asset Management LP Sells 52,943 Shares of Ares Dynamic Credit Allocation Fund, Inc. $ARDC

Readystate Asset Management LP trimmed its stake in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 58.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,414 shares of the company’s stock after selling 52,943 shares during the quarter. Readystate Asset Management LP’s holdings in Ares Dynamic Credit Allocation Fund were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ARDC. Advisors Asset Management Inc. raised its holdings in Ares Dynamic Credit Allocation Fund by 12.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 420,778 shares of the company’s stock valued at $5,920,000 after acquiring an additional 46,322 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Ares Dynamic Credit Allocation Fund by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 370,332 shares of the company’s stock valued at $5,211,000 after purchasing an additional 17,734 shares in the last quarter. United Advisor Group LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 1.6% during the 2nd quarter. United Advisor Group LLC now owns 336,279 shares of the company’s stock valued at $4,782,000 after purchasing an additional 5,435 shares during the period. AdvisorNet Financial Inc lifted its holdings in Ares Dynamic Credit Allocation Fund by 35.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 319,133 shares of the company’s stock worth $4,490,000 after purchasing an additional 84,013 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Ares Dynamic Credit Allocation Fund by 8.6% during the 2nd quarter. Invesco Ltd. now owns 297,857 shares of the company’s stock worth $4,236,000 after purchasing an additional 23,540 shares in the last quarter.

Ares Dynamic Credit Allocation Fund Trading Up 0.4%

NYSE ARDC opened at $13.25 on Thursday. The company’s 50 day simple moving average is $13.38 and its two-hundred day simple moving average is $13.81. Ares Dynamic Credit Allocation Fund, Inc. has a 1 year low of $11.52 and a 1 year high of $15.37.

Ares Dynamic Credit Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.1125 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 10.2%.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.